- The Social Drought of American Teenagers : Trends in American teenagers reveal a startling decline in social activities. Traditional age related behaviors like going on dates and drinking alcohol have decreased substantially over the years. While reduced alcohol consumption might seem like a positive, the overall lack of social interaction is raising concerns among experts about the emotional well-being of young people. Explore the revealing charts [here].
- Bangladesh’s Poverty Plunge : On a happier note, Bangladesh has achieved a remarkable feat in poverty reduction, with its poverty rate plummeting from over 40% in 1988 to just 9.6% in 2022, a 76% drop. Measured by the World Bank’s Poverty headcount ratio at $2.15 a day (2017 PPP), this significant drop highlights the impact of effective economic policies and social programs. Chart is my own: !
- The Pump-Priming Paradigm Revisited : The concept of “pump priming” hinges on the belief that strategic fiscal or monetary interventions can spur economic activity. While Milton Friedman argued that the Great Depression was caused by the Federal Reserve’s failure to counteract reduced money stock, Ben Bernanke had a different take. He believed that the cause was a problem of insufficient credit rather than liquidity. In the end, Bernanke acknowledged Friedman’s analysis by stating in 2002, “[to Milton and Anna:] Regarding the Great Depression. You’re right, we did it. We’re very sorry. But thanks to you, we won’t do it again.” and arguably proceeded to do it again in 2009. Link 1 [paywall], Link 2.Stay curious and join us again next week for three more interesting things!
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